Nifty Ready for another big move

  • FII’s bought 24.6  K contract of Index Future worth 2295 cores 21.4 K Long contract were added by FII’s and 3.3 K Short contracts were covered by FII’s. Net Open Interest increased  by 18.2 K contract, so rise in Nifty was used by FII’s to enter long and exit short in  Index futures.FII’s Long to Short Ratio at 1.73  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis  Plan remains the same for Swing trader Till we are above 11910 bulls can move towards 12000/12041/12100, Bears will get active below 11810 for a move back to 11777/11721/11666/11610. 12100 done so we were able to capture the whole move from 11910 to 12100 , High made was 12103, precision of gann level. Now Bulls need to hold 12039-12045 range in case of correction for this upmove to continue further towards 12220/12300. Bears will get active below 12020 for a move back to 11966/11910. Today is an important time cycle dateTHE MOST NEGLECTED TRADING DISCIPLINE

  • Nifty June Future Open Interest Volume is at 1.97 core with addition of 15.9  Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @11954 closed below it
  • Total Future & Option trading volume at 17.6 Lakh core with total contract traded at 1.93 lakh , PCR @0.88
  • 12100 CE  is having Highest OI  at 14.3 Lakh, resistance at 12100 followed by 12200 .11000-11800 CE added 8.5 Lakh in OI so bears added position in range of 11800-12000. FII bought 15.2 K CE and 5.9 K shorted  CE covered were by them. Retail sold 61 K CE and 12.3 K shorted CE were covered by them.
  • 11800 PE OI@16 Lakhs having the highest OI strong support at 11800 followed by 11700 . 11000-11700 PE added 20 Lakh in OI so bulls added position in range 11600-11800 .FII sold 207 PE and 6.9 K PE were shorted by them. Retail bought 220 K PE and 144 K PE were shorted by them.

Buy above 12105  Tgt 12129 ,12157 and 12184 (Nifty Spot Levels)

Sell below 12039 Tgt 12020,11992 and 11960  (Nifty Spot Levels)

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